Before the bell 7-7-06: EBAY, GOOG, MSFT, YHOO

So far this morning, it looks like it will be a mixed to negative open for stocks. But that depends on how June jobs data comes in.

Today's trading will be all about the government's June employment report, which will be released at 8:30 a.m. The worry is that job growth might be higher than what analysts expect. If that is the case, investors would expect more Fed hikes -- a negative for stocks. Another moderate job report (such as the one in May) could support slowing economic growth.

The market expects nonfarm payroll to grow by 160,000 up from a tepid 75,000 gain in May, although already I've seen a few analysts adjusting their estimates upward.

Overnight, Asian markets were mixed, and while European markets are also mixed, most are negative at the moment.

Bonds are relatively unchanged this morning after the yield on the 10-year note declined to 5.18% yesterday, sending bond prices up.

Some interesting company specific news:
- AMD warned revenue will fall 9% from the first quarter, below expectations. AMD shares dropped 5% in Frankfurt (Intel seems unaffected).
- Starbucks posted a 6% rise in same-store June sales, below average estimates.
- GM and 3M were both upgraded.

Yesterday, tobacco stock Altria (MO) helped push up the S&P 500 (+0.2%) and the Dow Jones Industrial (+0.7%) after a judge ruled in favor of Altria, claiming punitive damages previously awarded were excessive. The NASDAQ ended nearly flat, up 0.1%.

Futures are mixed in early morning trade, pointing to a general 'wait and see' attitude amongst investors. While right now futures point to a mixed start, it all could change in an hour when the jobs numbers are released.

Here's a look at some key Blogging Stocks:

eBay (EBAY) is up 5 cents at $26.90 as of 7:58 a.m. After reaching a new 52-week low, eBay Inc. still needs to recover from yesterday's announcement  of a management shakeup and the speculation surrounding it.

Google (GOOG) is up $6.12 in pre-market trading to $429.31 as of 7:54 a.m. On a quiet morning for Google, Blogging Stocks blogger Brian White considers if Google needs a public face.

Microsoft (MSFT) is down 2 cent to $23.46 as of 7:58 a.m. The European Commission confirmed today it would debate anti-trust sanctions against Microsoft at a regular meeting on Wednesday.

Yahoo! (YHOO) is up 5 cents to $33.16 in pre-market trading as of 7:18 a.m. AOL is starting to look more and more like Yahoo as it considers making its service free to broadband subscribers.